Members expect their banking experiences to be near 10/10 regardless of where they bank, or they will seek out other options — alternate channels and even institutions.
As a result, credit unions are actively introducing new tools and features to meet member demands. But without realizing it, they are hindering themselves from achieving their user experience goals. How? Siloed capabilities and channels often prohibit a streamlined user journey. Although features are important, a memorable UX delivers a connected ecosystem of capabilities across all channels and provides unique engagements based on personalized offerings both in-branch and from outside.
Open Architectures And APIs
Achieving a seamless UI/UX must include all touchpoints, from deposits to clearings, and ensure solutions are so tightly connected that they appear as one seamless platform — a single, easy-to-navigate interface and frictionless transactions are crucial for remote members.
This approach might sound easy to achieve but is difficult to reach without the right technologies in place. Operating by line of business often prohibits interoperability and ultimately hinders the user journey. It’s here that an open architecture and the ability to leverage APIs to boost application connectivity come into play, bridging the proverbial divide between individual solutions.
Connected environments offer better experiences for users, keeping them in-solution and not forcing them to look elsewhere for specific logins and capabilities. Additionally, customization such as branding is maintained cross-device and cross-channel, including logos, colors, product names, and more — reinforcing your institution’s message and building loyalty with your members.
Lean On Data
Data plays a significant role in providing insights about your members’ experiences and revealing gaps in the user journey. Often decentralized across the institution when legacy platforms are in play, a lack of transparency can cause friction for members or cause them to experience a different UI/UX in-branch versus when banking from home. Simultaneously, employees on disparate systems are often unable to access pertinent account holder data quickly, negatively impacting member services.
Personalization is expected at every turn. When it’s added to a connected environment, it amplifies the overall member experience. By applying user behavior data and information from personal financial stories, your marketing campaigns and promotional offerings become more enriched, enabling your institution to display targeted messages and campaigns in a unique way that speaks to members’ needs.
Coupled with financial wellness offerings like personal financial management (PFM), credit scoring, and savings and planning tools, you’ll help members feel supported and connected to your credit union, even while banking remotely.
The Importance Of A Connected Ecosystem
Taking a platform approach rather than focusing on individual tools or capabilities will improve your credit union’s user journeys and overall member experiences — giving you a competitive edge and reducing attrition.
Alogent’s platforms are built on the most modern tech stacks with an open, API-based architecture to support a streamlined user journey and data-backed capabilities.
Discover More Today
Learn about Unify, Alogent’s patent-pending, cloud-native platform that streamlines and simplifies deposits: Download the eBook today.
Learn about Alogent’s unified digital banking platform, NXT, with consumer and business banking capabilities. Download the eBook today.
Jason Schwabline is the chief strategy officer for Alogent.